Rotation out of AI following US Democratic sweep | MarketTalk

Global equities rallied following the Democratic victory in the US midterms, but chip stocks were left behind. Nvidia, AMD and other semiconductor names faced selling pressure as investors questioned the future of AI spending. Even strong results from Qualcomm and Arm failed to attract buyers. Meanwhile, hopes of lower energy prices, easing tariffs and improving trade relations supported European and Chinese equities. With Big Tech earnings momentum slowing and financing costs rising, investors are increasingly looking beyond AI. Could cheaper European stocks benefit from sector rotation, or will elevated bond yields limit the broader equity rally? Watch the full episode to find out more! 0:00 Intro 1:05 Global markets rally after US midterms, but not chip stocks 5:36 Rotation continues 8:49 But macro setup threatens all stocks combined, hence rotation trade Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clints. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020, and launched her own website ipekScope.com in 2025. #ChipCarnage #AI #Semiconductors #Nvidia #AMD #Qualcomm #Arm #USMidterms #StockMarkets #SectorRotation #EuropeanStocks #BondYields _____ 👉 Discover our brand and philosophy: https://www.swissquote.com/en/group _____ 👉 Deepen your trading and investing knowledge with Swissquote Inspire: explore our articles, analyses, webinars and exclusive content: https://www.swissquote.com/private/inspire _____ 👉 Discover Swissquote’s culture and join a company that values innovation, diversity and team spirit: https://www.swissquote.com/en/careers